IBS launches iTravel, a unified selling and production technology platform

IBS has already signed contracts worth over $40 million (Rs 250 crores) with some of the leading players in the travel industry even prior to the official launch of the product into the market.ET Bureau | August 25, 2016, 17:45 IST

This new platform enables travel companies (airlines, tour operators, hospitality companies) to digitally source products and services from all their travel partners, package it, and directly offer to travelers through a digital device of choice, be it a laptop, smart phone or smart watch. With iTravel, it will no longer be necessary for travel enterprises to produce and operate all travel products and services that they offer to their customers.

IBS has already signed contracts worth over $40 million (Rs 250 crores) with some of the leading players in the travel industry even prior to the official launch of the product into the market. ``The unprecedented response by some of the largest tour operators, cruise liners, airlines and hospitality companies in the world even before the official launch of the platform is true testimony to its potential. The addressable market for the platform is estimated to be in excess of USD 4 billion. We are in talks with several more global players and anticipate signing more deals in the next 12 months," said V K Mathews, executive chairman - IBS Group.

iTravel has capabilities to personalize or customize these offerings, depending on the individual requirements, tastes and preferences of the traveler, thus enhancing customer loyalty and repeat business. The platform will also facilitate cross-selling and upselling opportunities and enhancing ancillary sales, thereby driving incremental revenues. Four different variants of the technology platform have been developed by IBS to suit the unique requirements of tour operators, cruise lines, airlines and hospitality companies world-wide.

The iTravel technology platform is the single largest investment that IBS has made in its nearly twenty year history. Over 400 dedicated R&D professionals across IBS' ten global offices have been engaged for over three years to develop this.